Fresenius Forecast Disappoints Market, Carl Zeiss Profit Drops 7%

Sarla Buch
07 Dec, 2018
New York City

Berkeley lifted fiscal profit outlook. Fresenius issued a profit warning. Carl Zeiss Meditec profit declined 7% but revenues surged 8%. Fresenius Medical Care forecasted flat income in the year ahead.

[R]4:00 PM Frankfurt – Berkeley lifted fiscal profit outlook. Fresenius issued a profit warning. Carl Zeiss Meditec profit declined 7% but revenues surged 8%. Fresenius Medical Care forecasted flat income in the year ahead.[/R]

In London trading, FTSE 100 index soared 145.13 or 2.2% to 6,847.93 and in Frankfurt the DAX index advanced 105.46 or 0.9% to 10,912.50.

In Paris, CAC 40 index jumped 87.85 or 1.8% to 4,867.92.

Berkeley Group Holdings Plc advanced 2.3% to 3,396 pence after the U.K.-based property developer reported revenues for the first-half ending in October dropped 0.7% from a year ago to £1.6 billion.

Net income in the period plunged 25.8% to £325.1 million from £438.4 million in a year ago period and diluted earnings per share slumped to 240 pence from 312 pence.

The home builder forecasted fiscal 2019 pretax profit of 5% and also estimated to remain same for the next two years.

Carl Zeiss Meditec AG rose 0.5% to €66.45 after Germany-based medical devices maker said revenues in the nine-month period ending in September soared 7.6% from a year ago to €1.3 billion.

Net profit in the period declined 7.1% to €126.2 million from €135.8 million in a year ago period and diluted earnings per share dropped to €1.41 from €1.57.

Carl Zeiss said revenues in the ophthalmic devices business jumped 6% to €933.3 million and revenues in the microsurgery segment surged 12.3% to €347.6 million.

The medical devices maker forecasted fiscal 2018 operating profit between 14% and 16%.

Fresenius Medical Care AG & Co. KGaA plunged 7.4% to €63 after Germany-based dialysis care and services provider forecasted fiscal 2019 “solid revenue growth” and “flat net income.”

Fresenius Medical is schedule to publish its revised estimate along with its fiscal 2018 results on February 20, 2019.